Before Al Gore started saving the planet, few had ever heard of "smart-grid" systems. Now the technology is emerging as a favorite of venture capitalists eager to invest in alternative energy tools. Capitalizing on that trend, smart-meter technology maker Trilliant Inc. on Wednesday said it has closed a $40 million funding round from an affiliate of MissionPoint Capital Partners and Zouk Ventures Ltd.
The Redwood City, Calif., startup makes software and hardware for electric utilities to track and optimize the flow of electricity to consumers, reducing carbon emissions and in ideally saving money for users. The technology can be used to notify consumers of periods of peak electricity consumption, enabling them to adjust their usage and potentially save money. It also allows utilities to automatically lower power to air conditioners and other equipment in a users' home or business during peak hours, provided they receive prior permission from the consumer.
It's a neat and a relatively simple way to monitor and save energy. It's also why VCs are lining up to fund other smart grid companies, including eMeter Corp. of Redwood City, Calif., which in April raised $12.5 million from Siemens Corp., Foundation Capital and DBL Investors; smart-energy software developer GridPoint Inc. of Arlington, Va., which raised $48.5 million last year in a round led by Goldman, Sachs & Co. and Susquehanna Private Equity Investments LLC; and Silver Spring Networks, a maker of network operating systems for monitoring electricity meters that in April reportedly raised $17.4 million. -- David Shabelman
See Aug. 20 press release from Trilliant
See Aug. 20 post on Trilliant from Greentech Media
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